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Wednesday, 1 June 2016

Next week: Ramadan is coming…

Speaking of Ramadan, Markit / Emirates NBD PMIs for Egypt, KSA and the UAE are due out on Sunday, a day (or two) ahead of the expected start of fasting. The House Economic Committee will also discuss amending the Investment Act sometime next week.

The EGX will move to its customary shorter trading day during the Holy Month, with trading running 10:00am to 1:30pm CLT and the discovery session running for 30 minutes starting at 9:30am.

As to the Holy Month itself: We remain convinced it starts on Tuesday, 7 June; our moms are certain it’s Monday, 6 June.

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